Multifamily N Illinois

Chicago's 60th tower crane goes up, 400 percent increase from 2010

Chicago's 60th tower crane goes up, 400 percent increase from 2010,ph01
Chicago Mayor Rahm Emanuel was joined by Judy Frydland, commissioner of the Chicago Department of Buildings and Alan Lev, president and CEO of Belgravia along with members of the McHugh construction team at the Renelle on the River site to mark the 60th tower crane to rise in Chicago this year.

The 60th tower crane touched the sky in Chicago this week, which marks a 400 percent increase since 2010, according to the mayor’s office.

“It is not only a historic high. It is a sign of Chicago’s economic vitality, vibrancy and versatility,” said Mayor Emanuel. “This crane is helping build a new residential building along the riverfront, further enhancing this vital and vibrant corridor."

The latest crane to go up was working on the Renelle on the River, an 18-story luxury condominium building at 403 N. Wabash Ave., according to the mayor’s office. Located along the Chicago River, buyers can choose between three-and four-bedroom floor plans ranging from 2,249 to 3,434 square feet.

Designed by Chicago-based bKL Architects, Renelle on the River is located on one of the last parcels of land available for development along this stretch of the Chicago River. According to Ruttenberg, the site had always been earmarked for development. However, the city wanted to wait until the right building and developer presented themselves. Due to the building’s orientation on the site, each residence at Renelle on the River will boast stunning city and river views.

Alan Lev, president and CEO of Belgravia Group, the developer of Renelle on the River said in a statement, “This may be the 60th tower crane to rise in Chicago, but we’re proud to say Renelle stands alone as an unexpected jewel rising along our beautiful riverfront.”

Cranes typically operate on construction sites for over a year and can operate for as long as two years, depending on the size of the development. Of the 60 tower cranes operating in 2017, 33 are still on construction sites in Chicago.

In addition to tower crane records, Chicago reports over 1,000 more building permits issued to date in 2017 as compared to same time period in 2016. This is the highest number of building permits issued in five years.